White House Considers Suspending Gas Tax

The Washington Post reported today, Tuesday, that the White House and Democratic leaders in Congress are considering suspending federal gasoline taxes to help offset rising prices. The White House stated, "All tools are on the table to reduce energy prices," adding that after President Joe Biden has already released 50 million barrels from the country's strategic petroleum reserve, "all options are on the table regarding what may happen in the future." Government data last week showed that consumer price inflation in the United States recorded its largest annual increase in 40 years. According to data from the American Automobile Association, today, the average cost of gasoline in the United States is $3.29 per gallon, up from $2.50 a year ago.